Companies, consumers and farmers across North America braced on Friday for U.S. President Donald Trump to impose 25% tariffs on Canadian and Mexican imports within hours, moves that could disrupt nearly $1.

Speaking from the Oval Office, Trump justified the tariffs as a response to what he described as excessive migration, drug trafficking, and unfair trade practices. While he suggested the tariff rate could rise further,

Trump said his decision will be based on whether the price of oil charged by the two trading partners is fair, although the basis of his threatened tariffs pertains to stopping illegal immigration